BIRAC-Launching Entrepreneurial Driven Affordable Products Fund Investment (BIRAC- LEAP Fund)
Apply at: http://bit.ly/BIRAC-LEAP-FUND
BIRAC LEAP (Launching Entrepreneurial Driven Affordable Products) Fund Investment primarily to provide capital assistance to startups with innovations and technologies. This fund would enable start-ups to pilot/commercialize their products/technologies. Thus the proposed funding support is positioned to act as a catalyst in bringing technologies/products forward piloting/commercialization and reducing their gestation period to commercialization.
KIIT TBI has partnered with BIRAC to implement the Launching Entrepreneurial Driven Affordable Products (LEAP Fund) with the aim of providing early stage and bridge funding to innovative technology driven life science start-ups.
The LEAP fund will provide funding support of up to 1 cr INR per startup based on Equity or Equity-linked instruments
- The venture must be early-stage (2-7 years since inception) with a high caliber team
- The venture must be working towards solutions for the Biotechnology/Life Science sector
- The company must have raised previous rounds of the fund (Grant/ Investment).
- A well-defined POC must have been achieved (as evaluated by the Review Committee).
- The venture must have a well-defined upscale and go-to-market strategy with positive revenue inflow within the next 24 months of funding.
- The idea should have a huge addressable market
- Investment required <1 Cr and willing to share equity with the incubator
- Indian Start-ups (registered under Companies Act, 2013), having at least 51% shareholders as Indian Citizens [does not include OCI or PIO] as the mandatory requirement.